From Yahoo Finance: 2025-04-07 18:14:00

Verizon customers can now open an online high-yield savings account with over 10 times the national average interest rate and get discounts on wireless bills. The savings account has a competitive APY of 4.40%, no monthly fees, and offers up to $180 off wireless bills in the first 12 months.

To open the Verizon + Openbank Savings account, customers need a minimum opening deposit of $500 and a minimum balance of $1,000 to earn discounts. There are no monthly maintenance fees, and funds are insured by the FDIC up to $250,000 per depositor.

To receive Verizon bill credits, customers need a monthly average daily minimum balance of $1,000 to $9,999.99 for $60 in credits, $10,000 to $29,999.99 for up to $120, and $30,000 or more for up to $180. This offer is available for the first 12 consecutive months after opening the account.

The Verizon + Openbank Savings account does not come with a debit card for ATM withdrawals. Customers can transfer funds to an external bank account instead. To open an account, Verizon customers with specific plans and eligibility criteria must fill out an online application and fund their account through the Openbank app.

Openbank, a division of Santander Bank, N.A., offers the Verizon + Openbank Savings account. Deposits are FDIC-insured up to $250,000 per institution, per depositor, per ownership category. The Openbank mobile app allows customers to manage their accounts, contact customer service, and more.

If you’re not a Verizon customer, there are other high-yield savings accounts with competitive rates available. Some options include savings accounts with interest rates of 4% APY and higher. Check out the full list for more information.

Read more: This new high-yield savings account offers 4.4% APY, plus up to $180 off your Verizon wireless bill